Dividend increase South32 Ltd. ADR (SOUHY)

Last week South32 published its FY18 Half year financial results. I dove in to these results and I read something I like, yes…. I saw a dividend increase. 🙂

In this post I give the dividend for South32 Ltd ADR (SOUHY). South32 American Depositary Receipts (ADRs), each represent five fully paid ordinary shares in South32.

South32 Ltd ADR announced a 14.06% increase in its dividend. The dividend is raised from $0.32 to $0.365. The dividend pay date is April 5, 2018 to shareholders of record on March 9, 2018 (ex dividend March 8, 2018).

Graham Kerr, South32 CEO, stated:

“We continue to deliver strong returns by maintaining a disciplined and flexible approach to capital management. We resolved to pay US$378M in shareholder dividends, directed US$93M to our buy-back program and announced a further US$250M increase to our capital management program to US$1B, leaving US$540M outstanding. With a net cash balance of US$1.4B, working capital expected to partially unwind and Group volumes expected to increase marginally in the second half, we are well positioned despite a reduction in future Cannington processing rates and metal production.”

Vrijheid Fonds

The new dividend amount represents an annualized dividend amount of $0.73 per share, up from $0.64. The dividend yield on current price is 4.05%.

My Vrijheid Fonds consist of 12 shares of SOUHY, so in 2018 my passive income will increase by €0.88 ($1.08). No taxes have to be paid for these dividends.

My projected annual total amount from my shares of SOUHY will be €7.14 after taxes.

Pollie

I’m a 40-something old guy from The Netherlands, aka Pollie.
I have a family with two little kids, a day job, a house with a garden and this blog to keep me busy. So not much different from you; an investor with a busy life with limited time to trade.
I want to share my journey to hopefully inspire others and also to track my progress towards my ultimate goal of financial independence.
Pollie@polliesdividend.com